Google Inc. Chairman Takes 20% Stake In Hedge Fund Manager D.E. Shaw

Google Inc.'s

Chairman Eric E. Schmidt acquired a 20 percent stake in hedge fund manager D.E. Shaw Group for an undisclosed price. http://www.deshaw.com/articles/LehmanStakePressRelease.pdf Shaw, which manages about $36 billion, said in a statement Tuesday that Schmidt has acquired the equity interest previously held by Lehman Bros Holdings Inc. Schmidt's stake represents a passive economic interest in the D. E. Shaw group, which will expects no changes in its management or operations, Shaw said. In a statement, Schmidt said he's "excited to invest in an enterprise that has so successfully used technology to deliver superior returns." Shaw specializes in using computer models to analyze potential investments.